The Weeknd-backed personalized song creation startup Songfinch raises $17m in Series A round

Songfinch, a startup that lets people create custom songs by discovering and collaborating with professional artists, has raised $17 million in a Series A funding round, led by Valor Siren Ventures leader.

This latest round brings the company’s total funding to date to $21.8 million, following the previous $4.8 million seed round in April led by Corazon Capital, who also participated in the round. This new Series A.

In addition to Corazon, many strategic investors joined The April seed round includes music icon Quincy Jones and superstars Abel ‘The Weeknd’ Tesfaye and Amala ‘Doja Cat’ Dlamini.

Based on Songfinch’s websitethe platform allows you to choose the style and mood of your songs, and share “story and memories,” which one of the company’s curated artists uses to create personalized lyrics. .

The company then promises to have a custom song written, recorded, and shipped for $199. Songfinch says its artists have distributed 130,000 songs to date.

Songfinch said in a press release that it is “trying to create a middle class of musicians” and does so “by enabling artists to pursue their career dreams and be pay for doing so”.

The company claims that their revenue over the past three years has increased by more than 27,000% and that more than $12 million has been paid to Songfinch artists in the past 12 months alone.

Songfinch says that the average artist on Songfinch makes about $25,000 per year, with 15% of the active artist community on its platform “reaching over $50,000” and “dozens of six figures in revenue.” imported every year”.

The platform claims to be seeing 95% artist retention and 200% year-over-year artist growth from 2021 to 2022.

“We have an ambitious roadmap, and this new funding will help us continue to lead the way in reimagining the relationship between creators and customers.”

John Williamson, Songfinch

John Williamson, CEO of Songfinch, said: “We have an ambitious roadmap, and this new funding will help us continue to lead the way in reimagining the relationship between creators and creators. client.

“Our main goal with Songfinch is twofold; to provide an opportunity for anyone to create and share their life experiences through music and to give artists a better chance to make a living from an industry that has often made it impossible body. “

“The rapid growth of the company and team in line with the mission is creating opportunities for musicians and bringing joy to consumers through one-of-a-kind custom songs.”

Jon Shulkin, Valor Equity Partners / Valor Siren Ventures

Jon Shulkin, Co-Chair of Valor Equity Partners and Fund Manager of Valor Siren Ventures, said: “We are grateful to partner with the Songfinch team and are perfectly aligned with the company’s mission to raise living standards. of musicians through a source of income.

“The rapid growth of the company and team in line with the mission is creating opportunities for musicians and bringing joy to consumers through one-of-a-kind custom songs.

“We believe Songfinch is well positioned to propel the industry forward and we are delighted to be working with the entire team to support their ambitions.”

“Corazon Capital aspires to support courageous founders who make a difference in the world, and the Songfinch team embodies that.”

Sam Yagan, Corazon

Sam Yagan, Co-Founder & CEO of Corazon Capital, said: “Corazon Capital aspires to support brave founders who make a difference in the world, and the Songfinch team embodies that.

“By empowering musicians to follow their passions and connecting friends and family through powerful emotional experiences, Songfinch has changed the lives of thousands of artists and customers. We know that Songfinch will continue to change people’s lives through the power of music, and we’re excited to be reinvested in this next chapter.”

Worldwide music business